In the first quarter of FY 2024/25, policyholders have surrendered insurance policies worth Rs 3.8246 billion. The Nepal Insurance Authority revealed that 14 life insurance companies reported a total of 28,057 policy surrenders during this period.
Among the affected companies, Life Insurance Corporation saw 7,731 policies worth Rs 1.22 billion being surrendered, while Nepal Life Insurance experienced 6,546 policy surrenders amounting to Rs 1.80 billion.
Despite the wave of surrenders, the life insurance companies collectively earned Rs 7.06 billion in first-year insurance premiums.
